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International relations

Vietnam and Singapore face pressure from US currency watchlist

Along with Malaysia, Southeast Asian nations newly flagged for monitoring

Singapore was singled out in the U.S. Treasury Department report on May 28 for persistent intervention in foreign exchange markets.   © Reuters

KUALA LUMPUR/WASHINGTON -- The U.S. has added Singapore, Malaysia and Vietnam to a list of potential currency manipulators, raising concerns that the trend of companies moving business into Southeast Asia to avoid tariffs on Chinese imports could prove a mixed blessing.

While inclusion on the watch list does not mean they will be penalized, those nations are wary of added pressure from Washington to increase imports at a time when the U.S. and China are stuck in a seemingly intractable trade war.

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